Read our latest research report from Chief Investment Officer Tim Travis on Assured Guaranty (AGO). Puerto Rican Sell-Off Brings Forward Tremendous Opportunity for Assured Guaranty  Read More

Value investing is all about buying companies at a deep discount to intrinsic value.  Often these companies are dealing with short-term issues such as a cyclical downturn.  Today we closed out one of our larger positions, which was in the agricultural equipment manufacturer AGCO.  We bought the stock mostly in the low to mid $40’s...Read More

You can’t go to a financial website or watch financial television without seeing a headline about the huge problems facing Greece.  This is a tiny country of 11 million people and a total GDP that is less than the market capitalization of a number of American companies.  Greece’s problems are similar to those facing most...Read More

The Dow Jones has crept into negative territory for 2015 and bonds have sold off as interest rates have rallied.  As we are now in year 6 of the bull market that started in March of 2009, valuations on both equities and fixed income look considerably stressed.  While most market participants seem eerily complacent with...Read More

Value investing is a somewhat broad term, but the concept is basically the idea of buying securities at a discount to “intrinsic value.”  By doing so and by being willing to take a longer-term approach, the value investor is able to invest with a large margin of safety and also achieve better investment returns.  It...Read More

Hello Everybody, Yesterday I was reading an interesting in interview with Bill Ngyren who is a famous value investor that runs Oakmark.  Ngyren’s funds are also invested in AIG as well as a few other financials similarly to how we’ve been invested for years now.  His rationale is not much different than mine, but I...Read More

Read our latest research report from Chief Investment Officer Tim Travis on Deutsche Bank AG (DB) Deutsche Bank – The Best Value in Banking?Read More

Read our latest research report from Chief Investment Officer Tim Travis on American International Group (AIG). AIG – P&C Underwriting Profit Augurs Well For AIGRead More

Read our latest research report from Chief Investment Officer Tim Travis on Assured Guaranty Ltd. (AGO) Assured Guaranty: Buying Dollars For 60 CentsRead More

On March 5th, I wrote about fixed income being the bubble that should be most concerning to the investor: The Bubble to be Worried About.  Since that time, bonds across the globe have been falling in value, causing significant losses in many fixed income portfolios.  The 10-year Treasury bond traded as low as 1.68% earlier...Read More